New Delhi, Feb. 3 -- Mumbai/Bengaluru: The India-US trade deal, announced Monday, has raised hopes in the Indian gems and jewellery industry, with tariffs on shipments to the US expected to fall sharply from 50% to 18%.

Jewellery stocks rallied on the news, tracking gains in the broader market. Shares of Kalyan Jewellers jumped over 6% in morning trade, while Titan rose about 3.6%.

US President Donald Trump shared initial details of the agreement on his social media platform Truth Social, saying Indian imports into the US would face an 18% levy, down from the steep 50% imposed in 2025 following India's purchases of Russian oil.

"We are not sure, but we hope that this trade deal also brings in zero duty on diamonds," Sabyasachi Ray, exe...